According to Andrey Rusetsky, asset manager of BCS, the potential purchase by Yandex of all assets of TCS Group (the head structure of Tinkoff Bank, as well as insurance and investment companies under this brand) will increase the capitalisation of the merged corporation to $25 billion. The net profit of the merged company may amount to $1.1 billion in 2021 and $1.6 billion in 2022.
The emergence of a new player will continue the era of ecosystems in the financial market, suggest experts interviewed by Izvestia. According to their expectations, the merged corporation will first of all become a competitor to Sberbank.
For comparison, the capitalization of Sberbank next year is expected to reach $65 billion, according to Rusetsky from BCS. Sberbank President German Gref stated that the financial corporation's net profit in 2021 will be around $14.2 billion. At the same time, the second largest retail Russian bank, VTB, may receive about $1.6 billion profit, follows from the Bloomberg consensus forecast.
The negotiations regarding the purchase of Tinkoff Bank by Yandex became known on Tuesday, September 22. The planned transaction amount is $5.48 billion, or $27.64 per share.